There will be further relief at the pumps starting from Wednesday, when the prices of all grades of fuel — petrol and diesel — are set to decrease.
Illuminating paraffin is also expected to decrease, with the only price rise coming in the cost of LP Gas.
The Department of Mineral and Petroleum Resources announced the fuel price adjustments on Monday.
The price adjustments for fuel, paraffin, and gas are as follows:
- Petrol 93 (ULP & LRP): R1.06 decrease;
- Petrol 95 (ULP & LRP): R1.14 decrease;
- Diesel (0.05% sulphur): R1.14 drop;
- Diesel (0.005% sulphur): R1.12 decrease;
- Illuminating paraffin (wholesale): R1.11 drop;
- Single maximum national retail price for illuminating paraffin: R1.48 decrease; and
- Maximum LPGas retail price: 23c increase.
A litre of 95 petrol, which currently costs R22.19 in Gauteng, will now cost R21.05 a litre as of Wednesday.
On the coast, a litre of 95 petrol, which costs R21.40, will cost R20.26 a litre in October.
The department explained the international and local factors leading to the price adjustments for October.
“The average Brent Crude oil price decreased from $78.54 (R1 351) to $72.82 per barrel during the period under review,” the department said.
Rand trades stronger
“The main contributing factor is the increased production from major oil-producing countries, despite lower demand concerns.
“The average international petroleum product prices decreased on average, in line with the lower oil prices, during the period under review.
“This led to lower contributions to the basic fuel prices of petrol by 91.74c per litre and 85.04c per litre, diesel by 91.37c per litre and 88.72c per litre, and illuminating paraffin by 87.64c per litre, respectively.
“The rand appreciated on average against the dollar [from R18.05 to R17.68] during the period under review.
“This led to lower contributions to the basic fuel prices of all products by over 21 cents per litre.” – SAnews.gov.za
